New fund supports energy development and environmental protection

Edmonton, AB – A new Energy Innovation Fund in Alberta will provide $200 million over the next three years for research, advanced technologies, market development, and innovative energy supply and environmental protection projects.

Projects under consideration will increase the efficiency and effectiveness of energy exploration, extraction or development in the province. The projects involve both renewable and non-renewable energy resources and focus on energy or environmental research, technology, innovation and efficiency.

The fund says that in this fiscal year, a total of $25 million will be awarded to projects. This amount includes $5 million to enhance knowledge of oil sands reclamation and groundwater management across the province. Projects being funded by the $5 million include:

– expanding the provincial groundwater network by adding more research wells,
– enhancing Albertas Groundwater Information System, and
– developing a manual of best management practices for land reclamation.